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Shell Agrees to Sell its Interest in German Refinery

Royal Dutch Shell, July 8, 2021

Shell Deutschland (Shell) has reached an agreement with Alcmene GmbH (part of the Liwathon Group) for the sale of its non-operated 37.5% shareholding in the 220,000 bpd PCK Schwedt Refinery in Germany.

The divestment is part of Shell's strategy to reduce its global refinery footprint to a smaller set of core sites that are integrated with Chemicals and Trading, which Shell refers to as Energy and Chemical Parks. These locations will integrate the benefits of conventional fuels and chemicals production while also offering new low carbon fuels and performance chemicals. They also offer future potential hubs for sequestration.

This is yet another milestone in our journey towards a reduced refining portfolio,” said Robin Mooldijk, Shell’s EVP for Manufacturing. “This sale supports the shift of Shell’s refining portfolio which includes the development of the high-value Energy & Chemicals Park Rheinland.

Germany remains a key country to realize Shell’s powering progress strategy goal of achieving net-zero emissions, purposefully and profitably. This sale does not impact any of Shell’s other interests or activities in the country.

The transaction is expected to close in the second half of 2021, subject to partner rights and regulatory approval.


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